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Exploration

Guyana’s first oil block auction: What to expect

Shikema Dey -
All eyes will be on Guyana come September when the country opens its first offshore bid round. This will be a major step for Guyana, a country that has never handed out oil licenses through a competitive process. Oil and...
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SBM Offshore is first major Exxon contractor to receive approval for local content master plan

OilNOW -
SBM Offshore is the first prime contractor of ExxonMobil Guyana to receive its Letter of Approval for its Local Content Master Plan, 2022. Halliburton was the second company to receive this letter followed by CGX Energy Inc. The Ministry of...
News

Maersk drillship contract with Shell extended for works in US Gulf of Mexico

OilNOW -
Maersk Drilling has secured a contract extension with Shell for a 7th generation drillship, to carry out additional drilling services in the United States Gulf of Mexico once it concludes current works. Maersk said the contract extension is expected to...
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“Utter nonsense” – Jagdeo on claims Guyana can monitor oil costs in ‘real time’

OilNOW -
Claims have been made that Guyana can conduct ‘real time’ monitoring of costs incurred by ExxonMobil for its offshore Stabroek Block operations. The country's Vice President Dr. Bharrat Jagdeo dismissed these last Friday, explaining that such a system does...
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Investments with 20/30-year horizons require stable contracts – ExxonMobil Guyana President

OilNOW -
ExxonMobil Guyana has outlined development plans to place six floating production vessels offshore Guyana by 2027 and see potential for 10 to be in operation in the Stabroek Block by the end of the decade. President of the company, Alistair...
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Heavy windfall taxes could make oil business financially unsustainable – Rystad Energy

Shikema Dey -
Windfall taxes have been introduced in some nations as a knee-jerk reaction to the global energy crisis to help ease the pockets of consumers paying the highest prices in decades for electricity, gasoline, and travel. Country’s such as Canada and the...
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Time running out for T&T to offer more investor-friendly contract terms – Energy Chamber

OilNOW -
The Trinidadian government had expressed openness to revising Production Sharing Contracts (PSC) to stimulate new investment in the twin-island Republic. The Energy Chamber of Trinidad and Tobago had called for this to be done. Upping its plea to the administration,...
Exploration

Keppel bags US$2.9 billion contract for ninth FPSO in Brazil’s Búzios field

OilNOW -
Keppel Offshore and Marine – a subsidiary of Keppel Shipyard – has secured a US$2.9 billion contract for the engineering, procurement, and construction of a new platform vessel for Brazil’s Petrobras. It would be the ninth vessel for Petrobras’ Búzios offshore oil field. Scheduled for...
News

Oil block auction could be delayed as government finalises fiscal terms

Shikema Dey -
Guyana’s planned offshore oil block auction may come later than expected as its government works assiduously to get the fiscal terms right to ensure balanced benefit to the parties involved. The Vice President, Dr. Bharrat Jagdeo told the press on...
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Unbundling of contracts, shorter payment period now central focus of gov’t, private sector

OilNOW -
The Ministry of Natural Resources and the Private Sector Commission (PSC) indicated, following a meeting Tuesday, that they have aligned on matters related to local content and will move together to find resolutions. The meeting involved discussions about the unbundling of...
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Stories Beyond the BarrelShikema Dey -

David Phillips: Building skills and people at TechnipFMC

David Phillips’ path to TechnipFMC started far from the oilfields — in mining. “My background is largely in mining,”...

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